Last night I worked all night programming, R&D, etc.. and time just passed by. This morning after submitting a post, I literally crashed, passed out, and the market followed suit, but not before touching the bearPRZ of 208.68 to the exact penny, as drawn out on the 5min chart.
Here the updated 5min chart, after the HOD on the 10:35 bar, a probability for a CD leg lower was alerted on the 11:20 bar.
Again…, if you don’t have the indicator, you can calculate this manually with the calculator.
The PRZ of that subsequent CD leg has a D at 204.49. Lo and behold that’s where it bounced of the LOD, into a small AB=CD with PRZ at 205.73, again this objective was achieved within a couple of pennies.
So for tomorrow:
watch the blue PRZ: if above then follow the subsequent XA retrace levels.
If below the yellow PRZ (todays’s low) then follow subsequent XA projection levels.
Note how the 161.8%XA is at 201.5’ish: look again at the 60min chart in previous post! We’re now on a CD leg of that pattern with a possible PRZ at 201. So that pretty much confluences with the 5min 161.8%XA…. we’ll see.
And another reason this is a probable objective:
Take todays range from high to low, and subtract that from 205.84 (the 3:40 bar), and voila, you get very close to that level as well.
In other words : today’s high could be a new A, today’s low could be a new B, and the 3:40 bar could be a point C. punch that into your calculator! and observe the “entry” !!!!!!!
so that would be the little homework I leave you with. 🙂